No officer or employee of the Borough of Hasbrouck
Heights shall have any interest, financial or otherwise, direct or
indirect, or engage in any business or transaction or professional
activity which is in substantial conflict with the proper discharge
of his duties in the public interest, except in accordance with the
terms of this chapter.

Any officer or employee of the Borough having,
directly or indirectly, any private financial interest or right to
a financial profit arising from any sale to, contract of any kind
or character or compensation for any professional engagement with
the Borough shall forthwith, before the consummation of such sale,
contract or engagement, advise the governing body, in writing, of
such financial interest or profit, whereupon the governing body may,
at its next regular public meeting, by a two-thirds vote of the entire
membership of the Council, adopt a resolution reciting in detail the
interest of said officer or employee and determining that no better
price was obtainable by the Borough and that, despite such financial
interest existing in said officer or employee, said purchase or contract,
in the judgment of the governing body, should be proceeded with by
the Borough. In case of actual emergency, said resolution may be adopted
at a special meeting of the Borough Council by a five-sixths vote
of the entire Council, which resolution may determine that no other
or better bid was obtainable or otherwise set up the facts to establish
such emergency. In case the person with the interest in said purchase
or contract shall be a member of the governing body, the two-thirds
or five-sixths vote of the Council shall be without the vote of such
person. In case the person with interest in the purchase or contract
shall be the Mayor, said resolution shall require the approval of
the President of the Council in place of the Mayor, in addition to
the two-thirds or five-sixths vote.

Nothing contained in this chapter shall be deemed
to prevent the incumbent of any office from abstaining from voting
in any matter in which he believes he has a conflict of duty or interest
nor to prevent a challenge of a right to vote on that account under
the principles of the common law or any statute.

Any person, firm or corporation who shall violate
any provision of this chapter shall be subject, upon conviction, to
one or more of the following: imprisonment in the county jail or in
any place provided by the municipality for the detention of prisoners
for a term not exceeding 90 days or a fine not exceeding $1,000 or
a period of community service not exceeding 90 days, as may be determined
by the Judge.